This month we had the pleasure of getting to know young entrepreneur, Sam Price, Founder of Alyve (pronounced alive), a fully personalised nutrition subscription service, tailored to your lifestyle and dietary factors. Sam sheds some light on how Alyve started and how it is evolving, as well as shares his hopes for the future of the business.
- Where did you start your career and what roles were you involved in?
I originally worked for a company called Dotdigital as a Customer Success Manger. I really enjoyed my time there, but it wasn’t really what I wanted to do long term. I was very interested in being an entrepreneur and dipped my toe into the world of entrepreneurialism whilst I was in university – setting up a mobile cocktail bar business with my friend. We would pop up a little bar at events like birthdays, weddings, parties, and hen dos and supply the guests with cocktails for the event.
- Did you always know you wanted to be an entrepreneur or was there a defining moment? If so, what was it?
I feel like I have always had it in me. I would look at things and see how something more creative could be produced. As a kid, I used to get cardboard boxes and make them into fake vending machines. I’ve also always been very interested in making money and seeing how I can turn something into being profitable. At the age of 11, I remember going around the house and collecting things that we did not use anymore, and I would sell them on e-bay. In college my friend and I hosted a successful boat party and from this set up a small events company. I really got a thrill from setting up something and seeing how I could improve and develop it.
- How did the idea of Alyve come about?
Alyve came about as a result of some serious jet lag, or so I thought. I got back from travelling and the jet lag feeling persisted for over two weeks. I was constantly feeling low on energy and felt something wasn’t right. I went to the doctor and long story short; the diagnosis was ADD. I got prescribed medication that didn’t really agree with me, so I took to my own devices to find out what worked for me. My frustration in trying to find a simple medical solution is what lead to the creation of Alyve. I wanted something that could tell me what I needed to take and provide it in one supplement.
- What makes Alyve different to other vitamin companies?
It would be the fact that it is a supplement unique to you and your needs, with all your necessary nutrients in one bottle.
- What was most challenging about starting your own business?
I went into it a bit naively. Thinking I could have the business perfect on day one. Little did I know I would have spent the next 6 months chopping, changing, adding and removing to our operations every single day until I felt it was perfect. I still don’t, but that’s being a business owner.
- How has the Coronavirus pandemic affected the business, and what contingency plans have been put in place to ensure survival through this unsettling time?
This is an interesting question as we set up the business during the pandemic. We’re a vitamin business so the fact that there is a pandemic at present could have helped us as everyone has become far more health conscious. However, the other aspect to consider is the financial constraints that the pandemic has caused and perhaps people that could afford a more premium kind of supplement can no longer do so. Essentially, we’ll only be able to tell the effect of COVID-19 on the business when looking at sales post-pandemic.
- Where do you see the business going in the future?
We know from research and our experience that the future of nutrition is going to be personalised. Why would you take a supplement that is made for everyone when you can have a supplement that is unique to you? Ideally, we’d love to see a bottle of Alyve on most peoples’ countertops or bedside tables in the near future. We’re already starting with international sales, so we hope to become an international company that’s kicking out the old, outdated multi vitamin and replacing it with one unique supplement that has all the nutrients you need.
- Who is a person that you considered as a role model early in your life? How and why does this person impact your life?
Cliché, but my dad. He currently runs a multi-million-pound turnover company, but I remember when I was growing up, we didn’t have the best of the best. He has always worked extremely hard and put in the leg work to make something of himself which I find truly inspiring. I’ve also got him alongside me now as a partner in Alyve which is great.
- What advice would you give to a young entrepreneur starting up their own business?
Do the due diligence! Truly know your market before you invest your time and money into it. It’ll save the pain and agony when you’re halfway through and it’s too late to go back.
Quick Fire
First thing you’re going to do post lockdown? A flight straight out of Gatwick!
What is one of the things you would put on your “bucket” list? Skydiving
Name 1 person, past or present you would like to have dinner with? Donald Trump – it would be amazing to see how his head works after a bottle of wine.
If you could live anywhere in the world, where would it be? Los Angeles – another cliché one, I know.
We met Sam when introducing him to our Raise Funds package as part of his efforts to raise funds for Alyve. If you are thinking about raising funds for your business and would like a call to discuss how Velocity can help, please call us on 0203 924 5150, or email us at info@blueboxvelocity.com.